Please answer all parts of the question in a similar format and ill be sure to thumbs up thank you In advance

PART 1

• Record the issue of bonds with a par value of $580,000 on January 1, 2021 at an issue price of $507,959.

PART 2

PART 3

PART 4

• Record the interest payment and amortization on June 30.
• Record the interest payment and amortization on December 31.

Required Information Problem 10-4A (Algo) Straight-Line: Amortization of bond discount LO P2 The following information applies to the questions displayed below.) Legacy issues $580,000 of 8.0%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $507,959 when the market rate is 12%. Problem 10-4A (Algo) Part 1 Required: 1. Prepare the January 1journal entry to record the bonds' Issuance. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $580,000 on January 1, 2021 at an issue price of $507,959. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry Clear entry View general journal Required Information Problem 10-4A (Algo) Straight-Line: Amortization of bond discount LO P2 The following information applies to the questions displayed below.) Legacy issues $580,000 of 8.0%, four-year bonds dated January 1, 2021, that pay Interest semiannually on June 30 and December 31. They are issued at $507,959 when the market rate is 12%. Problem 10-4A (Algo) Part 2 2. Determine the total bond Interest expense to be recognized over the bonds' life. Total bond interest expense over life of bonds: Amount repaid payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense 0 S 0 Required Information Problem 10-4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below.) Legacy issues $580,000 of 8.0%, four-year bonds dated January 1, 2021, that pay Interest semiannually on June 30 and December 31. They are issued at $507,959 when the market rate is 12%. Problem 10-4A (Algo) Part 3 3. Prepare a straight-line amortization table for the bonds first two years. (Round your Intermediate and final answers to the nearest whole dollar.) Unamortized Discount Carrying Value Semiannual Period-End 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Required Information Problem 10-4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below.) Legacy Issues $580,000 of 8.0%, four-year bonds dated January 1, 2021, that pay Interest semiannually on June 30 and December 31. They are issued at $507,959 when the market rate is 12%. Problem 10-4A (Algo) Part 4 4. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet